Coal India Ltd. (COAL) : The world’s biggest producer of
the fuel, plans to use its $9.2 billion of cash to increase
output and pay more dividend as investors clamor for higher
returns, Chairman Nirmal Chandra Jha said in an interview.
Shares lost 2.4 percent to 375.35 rupees.

Indian Oil Corp. (IOCL IN): The nation’s biggest refiner
plans to raise its borrowing limit by 300 billion rupees to 1.1
trillion rupees as it apprehends borrowings to go up sharply due
to high under-recovery on sales of diesel, kerosene and domestic
liquefied petroleum gas, Business Standard reported, citing an
unidentified company official. Shares added 0.7 percent to 310.2
rupees.

ITC Ltd. (ITC) : The company has increased prices of its
mid-sized cigarette brands, following an increase in value-added
tax on cigarettes in Andhra Pradesh state to 20 percent from
14.5 percent, Business Standard reported, citing an unidentified
ITC spokesperson. The stock slumped 3.4 percent to 190.95
rupees.

Petronet LNG Ltd. (PLNG) : The Indian importer of
liquefied natural gas was downgraded to “outperform” from
“buy” by equity analyst Bhavin Gandhi at Batlivala & Karani
Securities, with a target price of 198 rupees a share. The
shares plunged 6.3 percent to 166.85 rupees.

Reliance Industries Ltd. (RIL) : Billionaire Mukesh
Ambani’s company and BP Plc may need as long as four years to
raise output from India’s biggest gas reservoir because the
field is harder to tap than previously estimated, a person with
direct knowledge of the matter said. The stock plunged 6 percent
to 786.35 rupees.

Tata Chemicals Ltd. (TTCH) : The U.S. unit of the Indian
chemical company, FMC Corp. and U.S.-based Church & Dwight Co.
formed a joint venture company to manufacture and market sodium-
based dry sorbents for air-pollution control in electric utility
and industrial boiler operations, the Indian company said in a
filing to the stock exchange. The stock fell 1.5 percent to
332.3 rupees.